BitPico to Begin Bitcoin Cash Stress Test

'Roger Ver will now cry' BitPico's Twitter account says
27 June 2018   2085

BitPico, which previously carried out a stress test of the Lightning Network, begins to 'attack' Bitcoin Cash (BCH). This is reported by Bitcoinist.

In a series of tweets, which began publication on June 22, the group announced that after testing the Lightning network through a coordinated attack, it intends to do the same for Bitcoin Cash, this time attempting to perform the attack 51%.

The [Bitcoin Cash] attack has been started; it will continue to run as we work to amplify it over the coming months. We expect to have 5000 Bcash attack nodes in roughly 6 weeks and then we will multi-fork the chain. [Roger Ver] will now cry.

BitPico Twitter

BitPico are known as a supporters of the Bitcoin Scaling Solution SegWit2x. After this initiative failed, the group went 'undergroup' and showed itself only in March, when it began to attack the Lightning network.

We are no longer retired from bitcoin; just needed a break. We are bullish and working on the LightningNetwork.

BitPico Twitter

BitPico, who previously won the praise of Andreas Antonopoulos for the free testing of bitcoin technology, intend to put an end to the discussion about the practical applicability of Bitcoin Cash.

We can just mine the transaction ourselves and drop the merchants zero-conf Tx from our stratum backed mempool. We don’t think the [BitcoinCash] people understand how easy it is to bring their network down.

BitPico Twitter

Previously, Bitcoin Cash supporters conducted their own stress test, which was criticized by BitPico for "centralized and controlled and will be faked," they suggested.

Despite the "threats of murder" and curses from Bitcoin Cash fans, BitPico is not going to abandon the attack on the network and plan to create own fork called bitPicoCash.

To organize the attack, a separate repository on GitHub was created, which BitPico promises to begin filling in the near future.

Court to Dismiss BCH 'Hijack' Lawsuit

UnitedCorp claimed that it incurred significant losses due to the actions of the defendants, which are Kraken, Bitmain and Roger Ver
06 February 2020   574

The court dismissed the lawsuit of the mining company United American Corp. against the Kraken exchange, its founder Jesse Powell, Bitmain, its co-founder Jihan Wu and Roger Ver, who accused them of manipulating the Bitcoin Cash market and claimed $ 4 billion in compensation. As a reason for refusal, the court pointed to the lack of jurisdiction of the case and insufficient grounds.

UnitedCorp claimed that it incurred significant losses due to the actions of the defendants, who, after the emergence of Bitcoin SV in 2018, organized the so-called “hash war” and competed for 11 days to form the longest chain. The role of the Kraken exchange in these events was due to the fact that it was the first to decide to award a ticker for the BCH chain, also called Bitcoin ABC.

The simultaneous decrease in the price of Bitcoin Cash from $ 400 to $ 200 led to a significant drop in mining revenue of UnitedCorp. The firm claimed that the defendants violated the Sherman Act (the first US antitrust law proclaiming a crime to impede free trade by creating a trust and conspiring for such a purpose), Clayton's law, which also regulates the activities of trusts, demonstrated negligence, unintentional misrepresentation, improper enrichment and treatment property in their favor.

During hash wars, the amount of computing power in the Bitcoin Cash network reached 7.88 EH / s, whereas now it is 3.99 EH / s. Due to the actions of other miners, UnitedCorp could receive a significant part of the awards it had hoped for before, and the depreciation only worsened its position.

The court dismissed the claim without further restrictions. Thus, UnitedCorp is allowed to submit its revised version again until February 28th.